Succession planning


Succession planning is a part of Human
resource planning for employee
development It is a strategy for identifying
and developing high potential workers for
future leaders.

1. Dr. Rupashree Pradhan
Ph.D. , MBA, M.COM,MTM
[email protected]

2. SuccessionplanningisapartofHuman
resource planning for employee
development.Itisastrategyforidentifying
anddevelopinghighpotentialworkersfor
futureleaders.
Successionplansareusedtoaddressthe
inevitablechangesthatoccurwhen
employeesresign,retire,arefired,getsick,
ordieItsupportsemployeedevelopment
andcareeradvancementprocessbybetter
staffingdecisionandpotentialemployee
retention.

3. Successionplanningisdefinedasaprocess
foridentifyinganddevelopingnewleaders,
whocanreplaceoldleaderswhenthey
leave,retireordie.
Itincreasestheavailabilityofexperienced
andcapableemployeesthatarepreparedto
assumetheserolesastheybecome
available.

4. Analyzing Future
Deciding key factors for forward movement.
Make blueprint of your plan
Discuss with employees about their future
Creating career development plan

5. Understanding market condition and
positioning target.
Strategic plan, mission, vision, and goals of
company.
Study of employee expectation.

6. Designing Job Description
Identifying skill, knowledge and
competencies and work experience

7. Organisation chart for future positions
Identifying the potential employees
Preparing the list of successors as couple of
options

8. a)findoutemployeeswhoareinterestedin
advancingintodifferentroles.
b)assesspeopletodetermineiftheyhave
thenecessaryskills,knowledge and
experiences.
Thisisimportanttomakecareerplanfor
eachsuccessorsaccordingtotheirtalent
andcapabilities.

9. Understanding the Gaps of skills (SWOT
Analysis)
Preparing individual career development
plan
Designing training, coaching and mentoring
programme
Assigning new responsibility for employee
engagement

10. Identifies most-qualified future leaders
Motivates employees by creating growth
opportunities
Identifies skill gaps and talent development
needs and Structures training and
development programme
Enable the organization to adopt
demographic and talent changes to achieve
the goals and targets

11. Transitionshighlyspecializedskillsintokey
rolestakingaComprehensiveViewof
InternalTalent
Preservesinstitutionalknowledge by
retainingskilledemployees
Helpsthecompanyplanforthelong-term
bykeepingbettertrackofthevalueof
employeessothatpositionscanbefilled
internallywhenopportunitiesarise
MaintainsbrandidentitybyEstablishinga
CultureofTransparency

12. Reducescostofhiringexternalpeople
BringsemployeesatisfactionasEmployees
know thatthereisachancefor
advancement

13. Therearethreemodelsofsuccession
planning
Successionplanningbyposition
Creatingsuccessionplanningpools
Top-down/,bottom-upsuccessionplanning

14. Inthismodel,management identifiesthe
potentialemployees who arebest
experienced,skilledandqualifiedtomove
intothekeypositionintheshortterm(within
1year),mediumterm(within2years)ofthe
longerterm(3-5years).
ThisapproachissuitableforCEOpositions.
Thisapproachistheleastcostlyandthe
quickest.

15. Inthismodel,highpotentialcandidatesare
identifiedwithintheorganizationasthe
seniormanagersofthefuture.
Thistypeofapproachtendstobe
somewhatfairerbecausemoremanagers
areinvolvedintheselectionofthepeople
whoareidentifiedfortheHighPotential
program.
Providingbroadbackgroundforthehigh
potentialemployeesratherthanasingle
functionalstreamofexperience.

16. Inthismodel,seniormanagement asa
groupdetermineswhatcompetenciesare
requiredtoenableapersontotakeonthe
keyroles.
Thisservestoempoweremployees.
Theprocessistransparent.

17. Successionplanninghelpsorganizationsto
createacultureoftalentdevelopment,
whichincorporatesstrategiesforthe
selection,coaching,andretentionofquality
employees.
Itprovidesopportunitiesforpotential
leadersandkeypersonnelthatareessential
tovitalityandsustainabilityofsuccessful
anddynamicorganizations.

18. Ithelpstoovercomesignificantchallenges
related to compensation issues,
generationationalissuesand client
retention.
Itismoreimportantthatsuccession
planningincludestheneedtopassonthe
knowledge,judgment,andintuitionof
seniorleadersbeforetheyretiresothat
samelevelofworkproceduretobe
continued.